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Cadence Design to Acquire Verplex

Updated July 14, 2003 11:58 a.m. ET

Cadence Design Systems Inc., San Jose, Calif., agreed to acquire closely held Verplex Systems Inc. Financial terms of the deal weren't disclosed. Cadence Design, which makes semiconductor design software, said it expects the deal to close in the third quarter of 2003. Verplex, Milpitas, Calif., which also makes semiconductor-design products, said its line is complementary and doesn't overlap with Cadence products.